- Members with five (5) or more years of active Kentucky service who are at least age sixty (60) may retire with no reduction in benefits.
B. Reduced benefit retirement
Members age fifty-five (55) or more but less than age sixty (60) who have five (5) or more years of Kentucky service, but less than twenty-seven (27) years of service, may retire with reduced benefits. The reduction rate is 5% for each year the member's age is less than sixty (60) or 5% for each year the member's Kentucky service is less than twenty-seven (27) years, whichever is the lesser number.
The member's age is considered as the age attained on the first day of the month immediately following the member's birth date. To qualify for a July 1 retirement date, the member must have a properly completed retirement application on file in the offices of KTRS no later than June 1 of the year the member intends to retire. Effective in 2007, to qualify for a June 1 retirement date, the member must have properly completed retirement application on file in the offices of KTRS no later than May 1. For retirements other than June and July, the properly completed retirement application must be on file in the offices of KTRS no later than the first day of the month that the member intends to retire. Although KTRS counselors are available to answer questions about effective retirement dates, it is solely the member’s responsibility to select a retirement date that best suits his or her retirement plans.
Members who have established membership and maintained active accounts in more than one state-funded retirement system (the Kentucky Employees' Retirement System, the County Employees' Retirement System, the State Police Retirement System, the Legislators' Retirement Plan, the Judicial Retirement System, or the Kentucky Teachers' Retirement System) may determine their eligibility for retirement benefits by combining service credit in all systems. |
